Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Multifield International Holdings Limited (0898.HK)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$3.70 - $5.15$4.42
Multi-Stage$9.84 - $10.89$10.35
Blended Fair Value$7.39
Current Price$0.86
Upside759.01%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-9.94%-4.36%0.040.040.040.040.060.070.070.070.060.06
YoY Growth---0.01%-11.12%0.00%-27.97%-7.44%0.00%0.07%3.85%-0.06%4.05%
Dividend Yield--4.49%4.94%4.29%4.25%4.22%3.81%3.46%2.96%3.55%3.65%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)538.43
(-) Cash Dividends Paid (M)50.16
(=) Cash Retained (M)488.27
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)107.6967.3040.38
Cash Retained (M)488.27488.27488.27
(-) Cash Required (M)-107.69-67.30-40.38
(=) Excess Retained (M)380.59420.97447.89
(/) Shares Outstanding (M)836.07836.07836.07
(=) Excess Retained per Share0.460.500.54
LTM Dividend per Share0.060.060.06
(+) Excess Retained per Share0.460.500.54
(=) Adjusted Dividend0.520.560.60
WACC / Discount Rate6.69%6.69%6.69%
Growth Rate-6.36%-5.36%-4.36%
Fair Value$3.70$4.42$5.15
Upside / Downside329.73%414.45%499.32%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)538.43509.57482.25456.40431.94408.78421.05
Payout Ratio9.32%25.45%41.59%57.73%73.86%90.00%92.50%
Projected Dividends (M)50.16129.70200.56263.46319.04367.91389.47

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.69%6.69%6.69%
Growth Rate-6.36%-5.36%-4.36%
Year 1 PV (M)120.27121.56122.84
Year 2 PV (M)172.48176.19179.93
Year 3 PV (M)210.12216.92223.87
Year 4 PV (M)235.96246.21256.78
Year 5 PV (M)252.34266.10280.46
PV of Terminal Value (M)7,232.517,627.038,038.59
Equity Value (M)8,223.698,654.019,102.47
Shares Outstanding (M)836.07836.07836.07
Fair Value$9.84$10.35$10.89
Upside / Downside1,043.73%1,103.58%1,165.95%

High-Yield Dividend Screener

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